August 31, 2018 / 10:01 AM / 2 months ago

SE Asia Stocks-Most slip on trade worries; S'pore posts 3 pct monthly drop

    * Singapore marks third monthly decline in four
    * Philippines adds 2.4 pct on month 
    * Thai shares climb 1.1 pct in August

    By Sumeet Gaikwad
    Aug 31 (Reuters) - Most Southeast Asian stock markets ended
lower on Friday, tracking Asian peers, as risk sentiment took a
hit by a report U.S. President Donald Trump was preparing to
step up a trade war with Beijing.
    Singapore posted a 3.2 percent loss in August, while most
other Southeast Asian market eked out marginal gains on the
month.
    "Growing divergence between the stable markets in developed
economies and uncertainty and volatile emerging markets is
likely to persist," DBS Bank said in a note.
    Trump told aides he is ready to impose tariffs on $200
billion more in Chinese imports as soon as a public comment
period on the plan ends next week, Bloomberg News reported on
Thursday.
    Trump also threatened to withdraw from the World Trade
Organization if "they don't shape up," in his latest criticism
of the institution.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slid 0.6 percent in the session.
    Indonesian shares slipped, weighed down by consumer
goods and financial stocks, but ended the week 0.8 percent
higher.
    The market gained 1.4 percent this month, its second
consecutive month of gains.
    The index of the country's 45 most liquid stocks
closed the session marginally lower.
    Financials dragged down Singapore shares in their
third straight session of losses. 
    Singapore marked a minor gain this week, but posted its
third monthly decline in four.
    Thai shares trimmed early losses and ended largely
steady as losses in consumer staples offset gains in energy and
financial stocks.
    The index rose 1 percent this week, bringing the monthly
gain to 1.1 percent. 
    The country posted a rise in exports for July but current
account surplus narrowed, the Bank of Thailand said.

    Meanwhile, Philippine shares ended the week 1.1
percent higher, adding 2.4 percent over the month.
    Malaysian markets were closed for a holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3213.48  3225.72         -0.38
 Bangkok            1721.58  1720.43         0.07
 Manila             7855.71  7853.16         0.03
 Jakarta            6018.46  6018.964        -0.01
 Ho Chi Minh        989.54   998.07          -0.85
                                             
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3213.48  3402.92         -5.57
 Bangkok            1721.58  1753.71         -1.83
 Manila             7855.71  8558.42         -8.21
 Jakarta            6018.46  6355.654        -5.31
 Ho Chi Minh        989.54   984.24          0.54
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Amrutha
Gayathri)
  
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